Ultimate Oscillator

UltimateOscillator.efs  
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File Name: UltimateOscillator.efs

Description:
Ultimate Oscillator

Formula Parameters:

• Short Period : 7
• Med Period : 14
• Long Period : 28

Notes:
Oscillators typically compare a security's smoothed price with its price x-periods ago. Larry Williams noted that the value of this type of oscillator can vary greatly depending on the number of time periods used during the calculation. Thus, he developed the Ultimate Oscillator that uses weighted sums of three oscillators, each of which uses a different time period.
The three oscillators are based on Williams' definitions of buying and selling "pressure".

Download File:
UltimateOscillator.efs


EFS Code:

/*********************************
Provided By:  
    eSignal (Copyright c eSignal), a division of Interactive Data 
    Corporation. 2009. All rights reserved. This sample eSignal 
    Formula Script (EFS) is for educational purposes only and may be 
    modified and saved under a new file name.  eSignal is not responsible
    for the functionality once modified.  eSignal reserves the right 
    to modify and overwrite this EFS file with each new release.

Description:        
    Ultimate Oscillator
    
Version:            1.0  05/08/2009
    
Formula Parameters:                     Default:
    Short Period                        7
    Med Period                          14
    Long Period                         28

Notes:
    Oscillators typically compare a security's smoothed price with its 
    price x-periods ago. Larry Williams noted that the value of this type 
    of oscillator can vary greatly depending on the number of time periods 
    used during the calculation. Thus, he developed the Ultimate Oscillator 
    that uses weighted sums of three oscillators, each of which uses a different 
    time period.
    The three oscillators are based on Williams' definitions of buying and 
    selling "pressure." 
**********************************/
var fpArray = new Array();
var bInit = false;

function preMain() {
    setStudyTitle("Ultimate Oscillator");
    setCursorLabelName("UO");
    addBand(70, PS_SOLID, 1, Color.red);
    addBand(50, PS_SOLID, 1, Color.yellow);
    addBand(30, PS_SOLID, 1, Color.green);    
    setStudyMax(80);
    setStudyMin(20);
    var x = 0;
    fpArray[x] = new FunctionParameter("Period_short", FunctionParameter.NUMBER);
    with(fpArray[x++]) {
        setName("Short Period");
        setLowerLimit(1);
        setDefault(7);
    }    
    fpArray[x] = new FunctionParameter("Period_med", FunctionParameter.NUMBER);
    with(fpArray[x++]) {
        setName("Med. Period");
        setLowerLimit(1);
        setDefault(14);
    }    
    fpArray[x] = new FunctionParameter("Period_long", FunctionParameter.NUMBER);
    with(fpArray[x++]) {
        setName("Long Period");
        setLowerLimit(1);
        setDefault(28);
    }        
}

var xUO = null;

function main(Period_short, Period_med, Period_long){
var nBarState = getBarState();
    if (nBarState == BARSTATE_ALLBARS) {
        if (Period_short == null) Period_short = 7;
        if (Period_med == null) Period_med = 14;
        if (Period_long == null) Period_long = 28;
    }
    if (bInit == false) {
        xUO = efsInternal("Calc_UO", Period_short, Period_med, Period_long);
        bInit =  true;
    }
    nUO = xUO.getValue(0);
    if (nUO == null) return;
    return nUO;
}

var xMA1TL = null;
var xMA2TL = null;
var xMA3TL = null;
var xMA1TR = null;
var xMA2TR = null;
var xMA3TR = null;
var xTL = null;
var xTR = null;
var bSecondInit = false;

function Calc_UO(Period_short, Period_med, Period_long) {
var nMA1TL = 0;
var nMA2TL = 0;
var nMA3TL = 0;
var nMA1TR = 0;
var nMA2TR = 0;
var nMA3TR = 0;
var nRes = 0;
    if (bSecondInit == false) {
        xTL = efsInternal("Calc_TrueLow");
        xMA1TL = sma(Period_short, xTL);
        xMA2TL = sma(Period_med, xTL);
        xMA3TL = sma(Period_long, xTL);
        xTR = atr(1);
        xMA1TR = sma(Period_short, xTR);
        xMA2TR = sma(Period_med, xTR);
        xMA3TR = sma(Period_long, xTR);
        bSecondInit = true;
    }
    nMA1TL = xMA1TL.getValue(0);    
    nMA2TL = xMA2TL.getValue(0);
    nMA3TL = xMA3TL.getValue(0);
    nMA1TR = xMA1TR.getValue(0);    
    nMA2TR = xMA2TR.getValue(0);
    nMA3TR = xMA3TR.getValue(0);
    if (nMA1TL == null || nMA2TL == null || nMA3TL == null) return;
    nRes = (4 * nMA1TL / nMA1TR + 2 * nMA2TL / nMA2TR + nMA2TL / nMA2TR) / 7;
    return nRes * 100;
}

function Calc_TrueLow() {
var nRes = 0;
var nClose1 = close(-1);
    if (nClose1 == null) return;
    nRes = Math.min(low(0), nClose1);
    nRes = close(0) - nRes;
    return nRes;
}